REVENUE FROM TAXATION

Press, Volume LXXIII, Issue 22197, 14 September 1937, Page 8

REVENUE FROM TAXATION

♦ j PRE-BUDGET REVIEW OF POSITION RECENT MOVEMENTS IN STATE EXPENDITURE [THE PRESS Special Service! WELLINGTON, September 13. "With the Budget, containing particulars of whatever are to be the fiscal obligations of the public, to be brought down in the House of Representatives shortly, the present is an appropriate time to review recent movements in State expenditure, taxation, revenue, and rates of taxation," says a statement issued by the Associated Chambers of Commerce of New Zealand. "The following tables cover the main divisions of the subject:— State Expenditure

Unearned Income Tax 2.000 382 7 6 331 12 10 399 6 2 3,000 681 15 0 680 10 8 781 10 8 4.000 1029 5 0 1140 10 8 1274 17 4 5.000 1431 15 0 1711 12 10 1879 6 2 7,500 2548 0 0 3408 13 9 3659 13 9 10,000 3801 05 0 5248 8 10 5582 15 6 "The tables have oeen set out in their logical order; increases made in Stale expenditure were the reason why taxes were increased last year. The supreme advantage the State has as compared with a private individual is that it does not have to adjust its expenditure to meet its revenue; it Ss able to fix its expenditure and then arrange for revenue to meet it. The fact which emerges is that if is to be reduced then Government expenditure must come down."' ,

Excluded.) *"*" 1 11.826,000 1913-14 1929-30 25,200,000 1 1932-33 22,528,000 1 1933-34 24,202.000 i 1934-35 24,499,000 < 1935-36 25,890,000 1 1936-37 30,675,000 Taxation Revenue (Unemployment Taxes Excluded) < i> i 1913-14 5,918,000 i 1929-30 19,471,000 < 1932-33 15,604,000 ] 1933-34 17,057.000 , 1934-35 20,176,000 i 1935-30 21,554,000 1936-37 26,941,000 Taxes a Head, | , 1936-37 J Australia. United Kingdom. N.Z. | \ £15/6/11 £16/12/6 £19/14/10 r Company Taxation Increases j j Taxable „ .. „- i Income. 1935-36. 1936-37. J £ £ s. d. £ s. d. 300 11 7 C 18 15 0 J 500 24 7 6 35 8 4 I 700 41 14 2 55 8 4 I 1.000 75 16 8 91 13 4 ] 2,000 246 9 2 266 13 4 c 4,000 812 10 0 866 13 4 c 5,500 1340 12 6 1535 8 4 t 7.000 1866 7 1 2245 16 8 10,000 2925 .0 0 3750 0 0 < Land Tax Increases ] \ Unimproved Value. 1931-35. 1936-37. £ £ £ 10.000 41 67 . 15,000 62 141 '< 20,000 83 240 t 30,000 125 516 < 40,000 166 895 t 50,000 208 1250 1 f Income Tax Increases (Married Taxpayer wi.h two chilrdren.) } Assessable Income. 1935-36. 1936-37. > £ £ s. d. £ s. d. £ 300 Nil. Nil. \ 400 2 13 10 3 8 0] 500 7 11 8 12 9 8 x 600 15 11 9 22 8 0 t 700 28 6 3 ' 33 3 0 4 800 44 0 3 44 14 8 t 1.000 67 12 0 70 8 0 2,000 238 4 11 248 14 8 5,000 1129 19 11 1283 14 8 l 7,000 1874 3 5 2285 5 4 l 10,000 2956 1 11 - 3936 6 8 United Kingdom Equivalent Rates for 1936-37. Earned Income Tax. N.Z. Tax plus Unemp'loyAssessable' U.K. N.Z. ment. 1 ] Income. Taxpayer. Taxpayer. Taxes. | £ £ s. d. £ s. d. £ s. d. 300 Nil. Nil 1. 11 0 0 400 1 11 8 3 8 0 17 14 8 450 4 15 0 7 16 9 23 16 9 500 7 18 4 12 9 8 30 3 0 550 11 17 6 17 6 9 36 13 5 600 21 7 6 22 8 0 43 8 0 800 59 7 6 44 14 8 72 8 0 1.000 97 7 6 70 8 0 104 14 8 5.000 1360 10 0 1283 14 8 1451 8 0 7,500 24*6 15 0 2553 10 4 2807 10 4 f 10,000 3730 10 0 3936 6 8 4270 13 4 C